25 March 2022
Dear Sir, We have raised some invoices to few Parties on one condition that on receiving the Invoice & Material, they will make the payment after deduction of Cash Discount. But this Condition was not disclosed in the invoices raised to the above parties. Now, I want to know for Balancing the Ledger of such parties i need to raise Credit Note but What will be the GST Implications on such Credit Notes.
28 March 2022
Sir, then it need to be shown in GST return as we have raised credit notes or not and if not then how to reconcile sales figure on GST portal and books
29 March 2022
You will not decrease your GST liability through credit notes for cash discounts. Therefore such credit notes will not get reflected in your GST returns
CAclubindia
